Vanguard Group Inc. Has $247.85 Million Position in CoreCivic, Inc. $CXW

Key Points

• Vanguard Group Inc. increased its stake in CoreCivic, Inc. by 2.2%, owning 12,215,492 shares worth approximately $247.85 million as of the latest SEC filing.
• CoreCivic received positive ratings from analysts, with a strong-buy rating from Wall Street Zen and a $30.00 price target from Jones Trading, contributing to an average target price of $33.33.
• CoreCivic reported a 9.8% year-over-year revenue increase, achieving $538.17 million for the quarter and exceeding analysts' expectations for both earnings per share and revenue.

Vanguard Group Inc. raised its position in CoreCivic, Inc. (NYSE:CXW - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,215,492 shares of the real estate investment trust's stock after purchasing an additional 267,198 shares during the period. Vanguard Group Inc. owned approximately 11.17% of CoreCivic worth $247,852,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Age Alpha Advisors LLC acquired a new position in shares of CoreCivic in the 1st quarter valued at $2,288,000. Gill Capital Partners LLC lifted its holdings in CoreCivic by 97.2% during the first quarter. Gill Capital Partners LLC now owns 22,512 shares of the real estate investment trust's stock worth $457,000 after acquiring an additional 11,095 shares in the last quarter. Harbour Investments Inc. grew its stake in CoreCivic by 215.6% in the first quarter. Harbour Investments Inc. now owns 5,337 shares of the real estate investment trust's stock valued at $108,000 after acquiring an additional 3,646 shares during the period. Tandem Financial LLC increased its holdings in shares of CoreCivic by 127.8% in the first quarter. Tandem Financial LLC now owns 60,051 shares of the real estate investment trust's stock worth $1,218,000 after acquiring an additional 33,686 shares in the last quarter. Finally, Natixis Advisors LLC raised its position in shares of CoreCivic by 63.1% during the first quarter. Natixis Advisors LLC now owns 16,461 shares of the real estate investment trust's stock worth $334,000 after purchasing an additional 6,369 shares during the period. 85.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jones Trading reiterated a "buy" rating and issued a $30.00 price objective on shares of CoreCivic in a research report on Thursday, August 7th. Wedbush reissued an "outperform" rating and set a $38.00 price objective on shares of CoreCivic in a research report on Wednesday, June 11th. Finally, Wall Street Zen upgraded shares of CoreCivic from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $33.33.

CoreCivic Stock Up 1.4%

CXW stock traded up $0.2860 during midday trading on Friday, hitting $20.7360. The company's stock had a trading volume of 1,229,403 shares, compared to its average volume of 1,052,763. The company's fifty day moving average price is $20.71 and its 200 day moving average price is $20.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.60 and a quick ratio of 1.60. CoreCivic, Inc. has a twelve month low of $12.13 and a twelve month high of $24.99. The stock has a market capitalization of $2.22 billion, a P/E ratio of 22.06 and a beta of 0.80.

CoreCivic (NYSE:CXW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.16. The company had revenue of $538.17 million during the quarter, compared to analysts' expectations of $499.02 million. CoreCivic had a return on equity of 7.12% and a net margin of 5.21%.CoreCivic's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 EPS. As a group, equities research analysts predict that CoreCivic, Inc. will post 1.5 EPS for the current year.

Insiders Place Their Bets

In other CoreCivic news, Director Stacia Hylton sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $21.69, for a total value of $86,760.00. Following the completion of the transaction, the director directly owned 82,969 shares in the company, valued at $1,799,597.61. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

About CoreCivic

CoreCivic, Inc owns and operates partnership correctional, detention, and residential reentry facilities in the United States. It operates through three segments: CoreCivic Safety, CoreCivic Community, and CoreCivic Properties. The company provides a range of solutions to government partners that serve the public good through corrections and detention management, a network of residential reentry centers to help address America's recidivism crisis, and government real estate solutions.